Shares of real estate developer Oberoi Realty Ltd hit a 52-week high on Monday, thanks to the company’s stellar June quarter performance. Another area where Oberoi Realty stands out among its peers is that it is not saddled with high debt. Income from project sales of its newly launched project in Mumbai’s Worli where Oberoi Realty is a joint venture partner, will find its way only at the profit level to the extent of equity held in the project. Ltd explains that it has cut FY17 and FY18 revenue estimate by 12% and the operating profit estimate by 16% owing to the exclusion of the Worli project. Given Oberoi Realty’s better performance and comfortable balance sheet, it’s hardly surprising that its shares have outperformed the BSE Realty index by 46% in the past two years.

Source: Mint August 22, 2016 20:15 UTC